Investor Presentaiton
STRIX TECHNOLOGY
Investor Presentation | FY2021 Final Results
Profit and Loss Summary
£m
2021
2020
% Change³
Revenue
119.4
95.3
25.3%
Adjusted Gross profit¹
47.4
39.4
20.3%
Other operating costs:
before exceptional
(14.3)
(8.5)
68.2%
Other operating costs:
(20.6)
(13.4)
53.7%
after exceptional
Adjusted operating profit¹
33.7
32.1
5.0%
Adjusted EBITDA1,2
40.5
38.1
6.3%
Adjusted PBT1
32.2
30.9
4.2%
Adjusted PAT¹
31.4
29.5
6.4%
Adjusted gross profit margin¹
Adjusted diluted EPS1
39.7%
14.9p
41.4%
14.3p
(1.6%)
4.2%
1
Adjusted results exclude exceptional items, which include share-based payment transactions, COVID-19 related costs, and other reorganisation and strategic project costs. Adjusted results are non-GAAP metrics used by management
and are not an IFRS disclosure.
2
EBITDA, which is defined as earnings before finance costs, tax, depreciation and amortisation, is a non-GAAP metric used by management and is not an IFRS disclosure.
3
3 Figures are calculated from the full numbers as presented in the consolidated financial statements.
Strix
TECHNOLOGY
Commentary
Revenue: increased to £119.4m, 25.3% above
FY2020 levels. This was partly due to the inclusion of
LAICA revenues of £22.7m in FY 2021 (FY 2020:
£4.1m), with the remaining increase of £5.5m
realised from organic growth
Adjusted operating profit¹: increased by 5.0% to
£33.7m, showing an increase of £1.6m, mainly
attributable to LAICA.
Adjusted EBITDA¹: of £40.5m, representing a 6.3%
increase on FY2020 levels, demonstrating Strix's
strong ability to manage cost implications
experienced over the period, which include higher
supply chain-related costs, higher payroll costs, and
higher advertising and promotional costs relating to
the water and appliances categories.
Adjusted PBT¹: Adjusted profit before tax was
£32.2m (FY 2020: £30.9m), an increase of £1.3m
(4.2%) on FY2020 levels, which included full LAICA
contribution.
Adjusted PAT¹: increased to £31.4m, a 6.4% increase
on the prior year. The tax expense decreased in the
current year mainly due to certain tax measures
adopted with the move of operations to the new
factory in Guangzhou, China.
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